The Supply Side Effects of a Change in Taxes on Labor

question 88

Multiple Choice

The supply side effects of a change in taxes on labor income means that ________ in taxes on labor income will shift the ________.

• A) an increase; labor supply curve rightward
• B) an increase; labor supply curve leftward
• C) a decrease; labor demand curve rightward
• D) a decrease; labor demand curve leftward

Recognize and utilize various elements of business letters and their formatting in Word.

Apply knowledge of Word’s AutoFormat options to streamline document formatting.

Understand the intersection and manipulation of rows and columns in a table.

Describe the design and importance of a letterhead in business communication.

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Definitions:

Corrective Taxes

Taxes implemented to correct the market outcomes that are not efficient by internalizing external costs, often used in environmental policy to address pollution.

Regulations

Standards and rules formulated by governmental or nongovernmental organizations to govern conduct within certain spheres of activity.

Pollution Permits

Marketable permits allowing holders to emit a certain amount of pollution, used as a regulatory tool to control environmental impacts.

Corrective Tax

A tax designed to induce private decision-makers to take account of the social costs that arise from a negative externality.